Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase.
This morning I sat down with Andrew Jallo from Dacotah Bank. There could be some FREE money for you if you qualify for special grants. You can reach Andrew at 605.692.8600 or Andrew.Jallo@dacotahbank.com. His office is located at 1441 6th St., Brookings SD 57006 or on the web at www.dacotahbank.com.
FREE MONEY!!!! WHAT GRANT MIGHT YOU QUALIFY FOR?
- Alright hey good morning everybody. It's Shane here from the Brookings Home Team powered by Century 21. It is Monday morning, a little after 8:15 so, but we're here. We're here and we're live. So I got Andrew here from Dakota Bank and he is gonna talk today about this week's Monday Morning Mortgage Tip.
- Yep, so Shane today I'm gonna talk about free money. Everybody likes free money, right?
- Free money.
- Exactly so Dakota Bank is proud to sponsor with Federal Home Loan Bank to offer what we call a Home Start Grant. It is 5,000 dollars to eligible borrowers that can used for down payment and closing cost assistance. So definitely a program that we'd like to utilize more of so if you're interested give me a call. I can run the numbers to you about eligibility. It is income-based eligible so making sure that we kinda take that into consideration. As well as just wanna kinda reiterate South Dakota Housing, if you do qualify, they did switch that for the Fixed Rate Plus Loan it is now 3% funds. That is a silent second so it's due at the sale or upon payment of the loan. As well as Grants for Grads so if you're a recent graduate, graduated in the last 60 months, you can get 5% that can be used again for a down payment and closing cost assistance. So definitely utilize those free funds that are available to you, talk with your lender to see if it makes sense to utilize them in your loan programs.
- If they offer these grads for grants and stuff is it the bank that determines if they do that or how does that work?
- Yep so the bank, as far as we're partnered with South Dakota Housing so we'll make sure as far as eligibility that you graduated from a post-secondary school that is accredited that meets that requirement within the last 60 months. So your lender will be able to make sure that you do qualify. So ask that up front, sometimes we might forget about it. So it's definitely just nice to be knowledgeable about it to make sure that we can utilize as many free funds, grants that are available to you.
- Perfect, yeah, like I tell all my clients always ask, it doesn't hurt to ask do you have any type of grants available for me? Least you're gonna say is no.
- Exactly, exactly, perfect.
- So yep, there you have it. That's today's Monday Morning Mortgage Tip with Andrew. As normal I have all of his information on the top, on the bottom or on the sides there. We got a new landscape here but on the sides for you to reach out and contact him with any questions. If you have a question for any of us that you'd like answered on our next episode please comment below or on the sides. Wherever your device allows you to do that. But the best thing is just get a hold of Andrew and he'll be happy to talk to you a little bit more about that. And also if you know of anybody that would benefit from this video, feel free to share and tag that to them. And have them reach out to any of us as well. Be happy to talk to them. So that does it for today's Monday Morning Mortgage Tip. Welcome back SDSU students. It's, the weekend was crazy.
- Oh yes.
- We definitely know that you're back in town and Brookings has grown now. So welcome back and talking about the Grants for Grads it goes for you guys too. SDSU is an accredited school.
- For that, but alright guys have a great week and we'll talk to you next week on the Monday Morning Mortgage Tip. Have a good one. See ya.